The Global Equity Market’s 20 Trillion Dollar Mistake Exposed

Last week there were all sorts of articles hitting the newswires about the fact the world's stock market total capitalization was pushing $100 trillion.

This article and chart from Business Insider sums up the reaction:

We first saw the chart in a note from CLSA analyst Damian Kestel: "I almost fell off my chair when I saw this and went to check that Bloomberg hadn't reclassified some data… but no. I included this chart of total equity market cap in [a previous note to clients] in early June this year. At that point total world market cap was US$74 trillion, it's now US$93 trillion," he wrote. (The chart excludes ETFs and the like, so there is no double-counting of single stocks in different indexes.)